The seven largest Japanese trading houses, including Mitsubishi Corp., Mitsui & Co., and Sumitomo Corp., have come under fire for exacerbating Asia's reliance on gas. Known collectively as sogo shosha, these companies are currently hindering the transition to clean and renewable energy sources. This development coincides with JERA, Japan's largest power company, preparing to launch operations at new 2.34GW gas-fired power plants in Chiba Prefecture's Goi thermal power station. The plants aim to alleviate electricity shortages during the peak summer demand season.
JERA's new power plants are set to commence operations shortly, with a significant capacity of 2.34GW. The initiative seeks to ensure a stable electricity supply when demand is at its highest. However, this move by JERA and the sogo shosha has sparked criticism from environmental analysts, who argue that these entities are delaying the global shift towards sustainable energy.
Sachiko Suzuki, an Asia climate and energy analyst for Market Forces, a Melbourne-based initiative investigating the financing of environmentally hazardous projects, has voiced concerns over the actions of these trading houses. Suzuki emphasizes that Japan's leading trading and energy companies have a duty to facilitate the transition to renewable energy. Instead, their current strategies contribute to climate change, with a continued dependence on gas-fired power generation.
The criticism highlights a broader issue where Japan's major trading companies are seen as lagging in their efforts to adopt cleaner energy solutions. The reliance on gas not only impacts Asia's overall energy landscape but also raises questions about Japan’s commitment to reducing its carbon footprint. The actions of these companies are under scrutiny as they play a pivotal role in influencing regional energy policies.
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